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IFR ACCOUNTING

Income Fund Reimbursable (IFR) accounts are self-supporting accounts that support activities related to the campus' mission. These accounts have clear and defined income/expenditure relationships. A unique aspect of IFR accounts is their ability to carry forward cash balances from one fiscal year to the next. An IFR account should have basically one purpose and one revenue source. Each IFR account should maintain a positive cash balance. The expenses charged to the account should be covered by the revenue which the account generates.

In accordance with NYS Finance Law and SUNY Procedure 7553, NYS A/G and OSC approval are required for revenue contracts at $25,000.00 and above. Departments are required to aggregate revenue streams with individual vendors in order to adequately calculate the total contract value. Departments must be able to demonstrate to NYS that the revenue the University receives is fair and reasonable.

Questions in this regard should be directed to Mary La Corte or Michael Standridge in Procurement at 631-632-6010. See checklist  for associated process and timeline.

 

 

IFR INFORMATION AND RESOURCES

ADDITIONAL MATERIAL AND CONTACT INFORMATION 

  • IFR Accrual

    IFR Accrual Training
    View

    IFR Accrual Documentation

    View

    IFR Accrual Do's and Don'ts
    View

  • Revenue

    Revenue Contract Setup Checklist
    View

    Revenue Contract Process for Contracts Exceeding $25K
    View

    Revenue Transfer Request Form
    View

  • General IFR Policies

    Managing IFR Accounts Presentation
    View

    Cash Handling Procedures
    View

  • Service and Course Fees

    Course Fee Guidelines
    View

    Service Center Rate Guidelines
    View

  • Opening a New Account

    Steps to Opena New IFR Service Center Account
    View

  • Contact Information

    Initial Allocation/Form 1

    Contact Telephone
    Elizenda Mondesir
    Budget Office
    (631) 632-6090

    Mid-Year Allocation Adjustments

    Contact Telephone
    Sara Lehmann
    Accounting Office
    (631) 632-6029

    Revenue/Expense Questions

    Contact Telephone
    Guneeta Jaspal
    Accounting Office
    (631) 632-6030
    Libya Williams
    Accounting Office
    (631) 632-9517
    Lolita Sung
    Accounting Office
    (631) 632-5716
    Brian Lellis
    Accounting Office
    (631) 632-6037
    Andy Glascodine
    Accounting Office
    (631) 632-1024